According to GMGN market data cited by BlockBeats on Sept. 6, BEN, a newly issued stock-themed meme token on BNB Smart Chain, reached a market capitalization of $9 million within two hours of launch. The token was later quoted at $8.2 million, while trading volume had climbed to $20.8 million.
The report said BEN is paired against tokenized U.S. stock product QQQ on BSC as its liquidity pool base. QQQ refers to the Invesco QQQ Trust, which tracks the Nasdaq-100 Index.
BlockBeats also warned that tokens of this kind can see sharp price swings and said users should approach such investments with caution. The figures and token information in the report were attributed to GMGN market data.
BlockBeats reported on Sept. 6, citing GMGN market data, that BEN, a newly launched stock-themed meme token on BNB Smart Chain, reached a $9 million market capitalization within two hours of issuance. It was later quoted at $8.2 million, with trading volume at $20.8 million.
The meme token is paired with tokenized U.S. stock product QQQ on BSC as its liquidity pool base. QQQ refers to the Invesco QQQ Trust, which tracks the Nasdaq-100 Index.
BlockBeats said users should be cautious, warning that price swings in related tokens can be large.
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